- Thredd’s collaboration with Discover ® Global Network will help enhance their service offering to existing and potential clients.
- The new initiative increases the optionality available to Thredd clients to expand their product offering, open up new revenue streams and access new geographies.
AMSTERDAM, 5th June 2024 - Thredd, a rapidly expanding next-generation global payments platform, today announced on the Money20/20 Europe stage its collaboration with Discover Global Network.
This strategic development is in direct response to demand from Thredd’s client base who are looking for flexibility when creating new card programmes, particularly for those who need the option for cross-border card issuance.
Discover Global Network processes billions of transactions for over 305 million Discover Global Network Cardholders around the world1 and is accepted at more than 70 million merchant locations and millions of additional micro-merchants connected to marketplace and payment facilitators2.
Over the coming months the Discover Global Network team will work with Thredd to enable Thredd clients to have access to this additional network. Initial development work will include virtual card issuance with Diners Club International.
This collaboration, following a string of new C-level hires, will also support Thredd’s international expansion, offering clients across Europe and APAC the ability to run card programmes on the Discover Global Network as they grow and expand their geographical footprint.
“Our recent integration into the Discover Global Network will allow us to develop additional revenue streams, access new markets for our clients, and support both our international expansion and that of our clients” said Jonathan Vaux, Head of Propositions & Partnerships at Thredd. He continued, “Our growing suite of partners is designed to grant clients financial flexibility to meet the personalised needs of every business.”
“By collaborating with Thredd, we can expand our network acceptance and provide flexible, convenient and more secure transactions to even more customers internationally,” said Tribh Grewal, Head of altpay, fintech, and commercial solutions at Discover. “This alliance will enable Discover Global Network to operate in a more seamless way by tapping into new markets across the globe.”
1 Discover Global Network participation and RBR Global Payment Cards Data and Forecasts to 2027, September 2022.
2 Based on data provided to Discover by merchants, acquiring institutions and other third parties as of December 31, 2023
